According to Fortune, JustCo CEO Kong Wan Sing is framing his co-working empire as a hospitality business, comparing it to hotels as he expands across Asia. The company, founded in 2011, now operates 48 offices in markets like Seoul, Bangkok, and Sydney, and is pushing into Malaysia, India, and Vietnam. They’re launching two new brand extremes: “THE COLLECTIVE,” a luxury concept with daily breakfasts and cleaning that debuted in Tokyo, and “the boring office,” a no-frills option with weekly cleaning and no free coffee that launched in Singapore. Kong notes that while flexible office space in Asia-Pacific has only grown from under 4% to just over 5% of total office stock, he’s seeing a “surge” in demand, with 60% of their clients being multinationals like Tencent and Moderna.
The Hotelification Of Work
Kong’s comparison to hotels is pretty sharp, and it reveals where the real battle lines are drawn now. It’s not just about selling square footage or a desk anymore. It’s about selling an experience that makes people want to leave their house. Think about it. When corporate giants mandate a return, they’re often met with grumbling. But if the office feels more like a curated, serviced space—a place with good coffee, networking events, and yes, even aperitif hours—that resistance might soften. The value proposition has completely shifted. It’s no longer “here’s a place to put your computer.” It’s “here’s a place that will make your workday better, easier, and maybe even a little luxurious.” That’s a hospitality mindset. And in a region still figuring out hybrid work, it might just be a genius play.
Asia Is The Next Flex Frontier
Here’s the thing: Kong is betting big on a gap. A 5% penetration rate for flex space in Asia-Pacific is tiny compared to the West. But that also means the growth runway is massive. He’s talking about a surge, and you can see why. American and European markets are more saturated, and the remote work debate feels more settled (even if it’s still noisy). In Asia’s booming economic hubs, there’s a scramble. Multinationals need regional footholds fast without long-term leases, startups are popping up, and the traditional corporate culture is colliding with modern work expectations. JustCo planting flags in Ho Chi Minh City and eyeing a return to mainland China isn’t random. It’s a land grab for the next wave of office evolution. They want to be the default platform before anyone else gets there.
The Luxury And Bare-Bones Gamble
Now, the two-brand strategy is fascinating. Launching “THE COLLECTIVE” and “the boring office” at the same time seems almost contradictory. But it’s brutally pragmatic. It acknowledges that companies have wildly different needs. Some want a premium space to impress clients and attract talent—a true extension of their brand. Others just need a cheap, functional address and internet connection for a small team. By segmenting the market so starkly, JustCo can capture revenue at both ends without diluting its core brand. They’re basically saying, “Whatever your post-pandemic office budget or philosophy is, we have a product for you.” The boring office, in particular, is a clever counter-narrative. In a world obsessed with bean bags and kombucha on tap, there’s probably a huge market for businesses that just want the basics without the premium price tag.
The Real Estate Reckoning
So what does this mean for the future? It signals a deeper fragmentation of the office market itself. The one-size-fits-all corporate HQ is looking increasingly outdated. The physical office is becoming a menu of services and experiences, from white-glove luxury to utilitarian outpost. Companies will mix and match these spaces based on team function, project needs, or even employee preference. This shift creates massive opportunities for providers who can be agile. But it also puts enormous pressure on traditional commercial landlords who are stuck with rigid, long-term leases for monolithic spaces. Kong’s genes for building a business, as he puts it, are tuned into this frequency. He’s not just renting desks; he’s selling flexibility as a service. And in the uncertain, hybrid world we’re building, that might be the most valuable commodity of all.
